Lithuania produces three times less electricity than it consumes. One of Europe’s largest electricity generation deficits exacerbates the already soaring electricity prices, experts say. The origins of the issue – December 31, 2009, 22:54. That is when the second reactor of the Ignalina Nuclear Power Plant, which met 70% of Lithuania’s electricity need, was shut…
Vilnius’ famed hot air balloon flights may become a rarity, as new more restrictive rules are coming into force in autumn. Regulators say they are necessary to avoid air traffic disruptions, while businesses warn this will be a deadly blow to the city’s reputation as the capital of air balloons. One after another, loud fans…
Viada LT, a Lithuanian petrol station chain operator, has said it will terminate its station management contract with Amic Lietuva (formerly known as Lukoil Baltija), if reports about the group’s links with Russia are confirmed. Ukraine’s Economic Security Bureau has recently opened an investigation into Amic Energy amid allegations of possible tax evasion, alleging that…
Viciunu Grupe (Viciunai Group), controlled by Kaunas Mayor Visvaldas Matijosaitis and Liudas Skierius, says it has found five potential buyers for its Russian business. The group, however, refrained to estimate how long it would take to sell and transfer the business. On August 19, the company said that EY (Ernst & Young) experts had drawn…
Scheduled annual maintenance on the NordBalt electricity cable between Lithuania and Sweden has been put off for more than two months due to the difficult situation in the electricity market. The Lithuanian Energy Ministry said that Litgrid, the country’s power transmission system operator, had made the decision on the ministry’s instructions. According to the Energy…
Skyrocketing gas and electricity tariffs promise to hurt Baltic countries this winter and possibly drive some poultry farms to bankruptcy. Darius Gudaciauskas, director of Lithuanian poultry companies Vilnius Poultry and Kaisiadoriu Poultry, said that the increased gas and electricity prices in 2022 had hit his business much harder than the Covid-19 pandemic in the previous…
The Lithuanian government will provide partial compensation to customers of Perlas Energija, an independent electricity supplier, after its announcement of the suspension of operations, Energy Minister Danius Kreivys has said. “Perlas Energija consumers from the first and second electricity market liberalisation phase can choose another electricity supplier, and they should do it until September 1,”…